Starting Dynare (version 6.1).
Calling Dynare with arguments: none
Starting preprocessing of the model file ...
WARNING: P15hr.mod:197.1-32: Symbol y declared twice.
WARNING: P15hr.mod:197.1-32: Symbol c declared twice.
WARNING: P15hr.mod:197.1-32: Symbol k declared twice.
WARNING: P15hr.mod:197.1-32: Symbol i declared twice.
WARNING: P15hr.mod:197.1-32: Symbol n declared twice.
WARNING: P15hr.mod:197.1-32: Symbol y_n declared twice.
WARNING: P15hr.mod:197.1-32: Symbol z declared twice.
WARNING: P15hr.mod:197.1-32: Symbol r declared twice.
WARNING: P15hr.mod:197.1-32: Symbol w declared twice.
WARNING: P15hr.mod:197.1-32: Symbol sigma_c declared twice.
Found 10 equation(s).
Evaluating expressions...
Computing static model derivatives (order 1).
Normalizing the static model...
Finding the optimal block decomposition of the static model...
3 block(s) found:
  2 recursive block(s) and 1 simultaneous block(s).
  the largest simultaneous block has 6 equation(s)
                                 and 6 feedback variable(s).
Computing dynamic model derivatives (order 3).
Normalizing the dynamic model...
Finding the optimal block decomposition of the dynamic model...
3 block(s) found:
  2 recursive block(s) and 1 simultaneous block(s).
  the largest simultaneous block has 6 equation(s)
                                 and 6 feedback variable(s).
Preprocessing completed.
Preprocessing time: 0h00m00s.

STEADY-STATE RESULTS:

y       		 1.21827
c       		 0.925674
k       		 14.6297
i       		 0.292594
n       		 0.300973
y_n     		 4.04776
z       		 0
r       		 0.00997847
w       		 2.59057
sigma_c 		 1.5

EIGENVALUES:
         Modulus             Real        Imaginary
          0.9446           0.9446                0
            0.95             0.95                0
           1.069            1.069                0
       3.152e+16        3.152e+16                0
             Inf              Inf                0

There are 3 eigenvalue(s) larger than 1 in modulus for 3 forward-looking variable(s)
The rank condition is verified.


MODEL SUMMARY

  Number of variables:         10
  Number of stochastic shocks: 1
  Number of state variables:   2
  Number of jumpers:           3
  Number of static variables:  5


MATRIX OF COVARIANCE OF EXOGENOUS SHOCKS
Variables         e_z
e_z          0.000049



MOMENTS OF SIMULATED VARIABLES
VARIABLE              MEAN       STD. DEV.        VARIANCE        SKEWNESS        KURTOSIS
y                 1.215371        0.035448        0.001257        0.071126        0.238479
c                 0.923652        0.012849        0.000165        0.146499        0.287060
k                14.571231        0.384899        0.148147        0.088813        0.230715
i                 0.291719        0.027373        0.000749        0.036783        0.065811
n                 0.301573        0.005217        0.000027        0.026866       -0.030589
y_n               4.030313        0.102922        0.010593        0.007779        0.228837
r                 0.010107        0.000728        0.000001        0.102996        0.199265
w                 2.585013        0.035141        0.001235        0.019812        0.177490
sigma_c           1.504349        0.053172        0.002827       -0.071126        0.238479


CORRELATION OF SIMULATED VARIABLES
VARIABLE          y        c        k        i        n      y_n        r        w  sigma_c
y            1.0000   0.7381   0.5944   0.9485   0.4924   0.8079  -0.1504   0.1502  -1.0000
c            0.7381   1.0000   0.9811   0.4864  -0.2229   0.9933  -0.7770   0.7772  -0.7381
k            0.5944   0.9811   1.0000   0.3092  -0.4066   0.9539  -0.8836   0.8841  -0.5944
i            0.9485   0.4864   0.3092   1.0000   0.7422   0.5800   0.1699  -0.1703  -0.9485
n            0.4924  -0.2229  -0.4066   0.7422   1.0000  -0.1149   0.7864  -0.7863  -0.4924
y_n          0.8079   0.9933   0.9539   0.5800  -0.1149   1.0000  -0.7038   0.7038  -0.8079
r           -0.1504  -0.7770  -0.8836   0.1699   0.7864  -0.7038   1.0000  -0.9996   0.1504
w            0.1502   0.7772   0.8841  -0.1703  -0.7863   0.7038  -0.9996   1.0000  -0.1502
sigma_c     -1.0000  -0.7381  -0.5944  -0.9485  -0.4924  -0.8079   0.1504  -0.1502   1.0000


AUTOCORRELATION OF SIMULATED VARIABLES
VARIABLE         1       2       3       4       5
y           0.9151  0.8330  0.7585  0.6920  0.6284
c           0.9910  0.9787  0.9637  0.9464  0.9268
k           0.9971  0.9906  0.9804  0.9672  0.9513
i           0.8858  0.7768  0.6793  0.5937  0.5131
n           0.9004  0.8050  0.7191  0.6430  0.5707
y_n         0.9839  0.9652  0.9447  0.9228  0.8992
r           0.9746  0.9474  0.9196  0.8919  0.8629
w           0.9744  0.9472  0.9194  0.8917  0.8626
sigma_c     0.9151  0.8330  0.7585  0.6920  0.6284
Total computing time : 0h00m06s
Note: 10 warning(s) encountered in the preprocessor
